The Cashless Future
Paolo Gagliardi, CEO, Trriple Payments LLC
Trriple aims to encourage individuals to go wallet free Trriple aims to encourage individuals to go wallet free
Trriple is a recently launched UAE-based mobile wallet application that targets unbanked and under-banked consumers, those earning between Dh2,000 and Dh10,000.
"Our vision is to build a global digital payment ecosystem for everyone, enabling anywhere, anytime payments in a trustworthy manner," says Paolo Gagliardi, Chief Executive Officer, Trriple Payments LLC, in an interview with Khaleej Times.
"At Trriple, we believe in financial inclusion: a future wherein anyone can access money anywhere. Money is powerful when it is in the hands of those who need it, when they need it. Trriple makes this a possibility by introducing the best possible technologies, and focusing on People, Planet and Prosperity," he adds.
The CEO says, "Our mWallet, which was designed locally and developed in India, is consistently upgrading and mending its services to suit the user better, and is available to download on the Google Play Store and the Apple App Store."
Gagliardi adds, "With the launch of our mWallet, we are reaching out to the vast segment of the population that still relies on cash as a primary means of transaction, and providing them with a secure and convenient, mobile-based solution. This includes the likes of blue-collar workers, and digital-savvy youth and the homebound without an outside income."
Currently, its users can top-up with cash at approximately 3,000 top-up points across the UAE with no cost to the user, enabling them to use a range of newly launched in-app financial services such as local and international mobile air-time top-up, local peer-to-peer transfers, and secure and fast retail payments.
Along with these services, Trriple users can also benefit from its loyalty programme which rewards its users in points redeemable for merchant vouchers.
Speaking on the importance of security in digital payments, Gagliardi says, "Security is, first of all, a state of mind, and it starts from us. Today, technology offers multiple ways to secure peoples' data, but we need to be educated and educate everyone around us to apply those means to stay safe."
He stresses that security is of utmost importance when it comes to digital payments. "The biggest challenge a digital payment provider faces today is ensuring secure transactions for their customers, for which they heavily invest in cybersecurity to avoid fraudulent payments for themselves and their customers."
Start-ups generally face a higher security risk, mainly because they neglect the importance of cybersecurity in today's digital space. Besides financial consequences, security in digital payments is also critical to avoid data breaches as it can damage the brand's credibility and reputation.
Users have to be careful about several aspects. "First and foremost, users should ensure that they are dealing with a reliable organisation that has taken solid cybersecurity measures to avoid any fraudulent payments and data breaches," he says.
"Users should also ensure that their mobile phones are protected with a screen-lock mechanism. When it comes to adding money to your wallet, users should only add the required amount. If users are saving their credit card details, they should ensure that their details are protected and in safe hands. Lastly, users should always switch on their transaction alert messages and keep an eye on it," he concludes